Jeffrey Brown explains that Saudi Arabia has peaked, and will have slowly declining output from now on.
Which leads me to question whether that is true or not. Then I stumble upon this article about the Saudi’s taking a serious look at Nuclear Reactors to power their capital, Riyadh.
Now, why would they be looking at Nuclear energy unless they are no longer able to increase production on a whim. They probably want to be able to continue to sell their one major export to other countries. This would indicate also that their domestic energy demand is rising.
We find more on that topic from none other than the Chief Executive Officer of Saudi Aramco, Khalid al-Falih.
“Saudi Arabia’s long-standing status as a swing producer of crude oil could be drawing to a close according to the head of national oil company Saudi Aramco.
Global oil exports from Saudi Arabia, the world’s largest oil producer alongside Russia, will start to wane in the coming years as domestic demand surges and spare capacity drops…“
It seems the evidence for Saudi’s Peak is stacking up fast.
This is not good news folks. If this is true, then we have passed World Peak for Oil production. This would also explain alot about the crunch happening in the Global Economy. This would also mean that there is not going to be any kind of substantial recovery. We are in store for a slow slide down the available energy curve. Less and less energy available per capita. Trillions of dollars lost in the stock market. In short…..the Greatest Depression.
This is the Oil Age, Historical/Future Oil Consumption, with some perspective to human history:
This is the Population curve, which will eventually match the Oil = Available Food curve above:
If you have questions or would like to know more you should start with the LATOC link in my blogroll.
